Redaptive Accepted as Energy Efficiency Provider for New York State's Real Time Energy Management Program

SAN FRANCISCO, Nov. 12, 2019 /PRNewswire/ -- Today, Redaptive, a leading provider of data-driven energy efficiency services for commercial and industrial customers, announced that it has been approved as a qualified provider for energy efficiency services through The New York State Energy Research and Development Authority's (NYSERDA) Real Time Energy Management (RTEM) program. Redaptive was selected for its ability to provide commercial customers with granular energy monitoring, facility optimization and turnkey energy efficiency services. Through NYSERDA's RTEM program, customers in New York State can save up to 30 percent on project costs for Redaptive's Efficiency-as-a-Service (EaaS) program.

Redaptive's EaaS platform enables large-scale deployment of energy efficiency improvements and retrofits, creating immediate and long-term savings. Customers can access and benefit from Redaptive's turn-key efficiency upgrades without upfront capital, as all costs are paid for through utility bill savings. Redaptive provides all the equipment procurement, data-driven analysis and assessment, installation and utility incentive administration without requiring time or resources from corporate or local facility teams. Redaptive's energy efficiency solutions have been instrumental in saving millions of dollars annually for customers across a broad variety of sectors, including telecommunications, manufacturing, food and beverage, and other commercial real estate portfolios.

Alicia Barton, NYSERDA President and CEO, said, "Energy efficiency measures are at the forefront of New York State meeting its goals under Governor Cuomo's nation leading climate and clean energy program. Kudos to Redaptive for participating in NYSERDA's Real Time Energy Management program and helping customers find the right system to monitor their energy needs, lower their carbon footprint and reduce energy costs."

"It's exciting to see New York setting a high bar for efficiency," said John Rhow, Redaptive Co-CEO. "We are looking forward to participating in the RTEM program, which incentivizes innovation and energy solutions that make it easier for customers to understand their energy consumption and take action to reduce emissions. Redaptive's program is an all-in-one approach, making it the preferred energy advisor for commercial scale optimization."

"We are committed to delivering data-driven solutions that reduce operating costs, and we look forward to working with our customers in New York," concluded Arvin Vohra, Redaptive Co-CEO.

In June, New York State's Governor Cuomo signed the Climate Leadership and Community Protection Act, or CLCPA, which adopts the most ambitious and comprehensive climate and clean energy legislation in the country. The CLCPA requires the State to achieve a carbon free electricity system by 2040 and reduce greenhouse gas emissions by 85 percent below 1990 levels, by 2050. It sets a new standard for states and the nation to expedite the transition to a clean energy economy. Additionally, earlier this year, New York City passed the Climate Mobilization Act, one of the strongest energy efficiency bills to date, requiring buildings over 25,000 square feet to reduce their carbon emissions footprint by 40 percent, by 2030.

NYSERDA'S RTEM program helps building owners and managers determine a combination of internet-enabled systems and services that monitor and identify improvements in building energy use. This can create a smarter building or facility, with lower operating and utility costs, and enhance the property's appeal and marketability.  Multifamily, commercial, and industrial customers in New York State are eligible for the program, and NYSERDA provides a 30 percent cost-share incentive on the total cost associated with installing, commissioning, and providing service on an RTEM system.

Learn more about NYSERDA's RTEM program online.

About Redaptive
Redaptive enables large-scale rapid deployment of building efficiency technologies that reduce operational expenses and deliver immediate returns and long-term value across our customers' real estate portfolios. Our Efficiency-as-a-Service solution provides turnkey efficiency upgrades that include materials, installation and maintenance. Customers realize immediate utility bill savings and actual kWh savings are verified through Redaptive's metering and building intelligence platform. Redaptive currently manages a national portfolio of efficiency projects for commercial and industrial customers, including AT&T, Saint-Gobain, Aramark and McKesson, and many other Fortune 500 companies. The company is headquartered In San Francisco, CA. Redaptive investors include CBRE, ENGIE New Ventures, Evergy Ventures, and Linse Capital.

For more information, please visit our website at redaptiveinc.com.

CONTACT: Cassandra Sweet, 415-269-4446, [email protected]

SOURCE Redaptive

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